WASHINGTON—President Trump is expected to release a $4.8 trillion budget Monday that charts a path for the start of a potential second term, proposing steep reductions in social-safety-net programs and foreign aid and higher outlays for defense and veterans. The plan would increase military spending 0.3%, to $740.5 billion for fiscal year 2021, which begins Oct. 1, according to a senior administration official. The proposal would cut nondefense spending by 5%, to $590 billion, below the level Congress and the president agreed...

Source: Wall Street Journal February 09, 2020 18:56 UTC